CANADA STOCKS-TSX steady as Ukraine fears offset U.S. data

Fri, 28 Mar - 12:59am
    * TSX down 5.44 points, or 0.04 percent, at 14,178.66 
    * Five of 10 main index sectors decline 
    * Oil prices help push up energy shares 
 
    By John Tilak 
    TORONTO, March 27 (Reuters) - Canada's main stock index was 
little changed in choppy trading on Thursday as concerns about 
the crisis in Ukraine undermined positive economic signals from 
the United States. 
    The index's energy and materials groups rose on higher 
prices for some commodities, but shares of banks and insurers 
declined. 
    A government report showed that fourth-quarter U.S. economic 
growth was faster than previously estimated, and separate data 
indicated that new applications for unemployment benefits 
dropped last week to a near four-month low.    
    Worries about the crisis in Ukraine continued to nag at the 
market, however. Ukraine has won an IMF-linked $27-billion 
international financial lifeline, it was announced on Thursday, 
while Moscow's economy minister warned of slowing growth in 
Russia.    
    "Stocks are caught up with lingering geopolitical stress and 
the impact of further sanctions on Russia," said Fergal Smith, 
managing market strategist at Action Economics.  
    "(The Ukraine situation) has made it difficult for stocks to 
make new highs," he added. "What's become more notable is that 
the pullback has started to come on higher volume." 
    Smith said he was looking for "modest, but not outsized, 
gains" in the Toronto stock market's benchmark index this year.  
    After hitting a near six-year high last week, the index has 
gained about 4 percent this year, but it is down on the month.  
    On Thursday. The Toronto Stock Exchange's S&P/TSX composite 
index    was down 5.44 points, or 0.04 percent, at 
14,178.66. Five of the 10 main sectors on the index were in the 
red. 
    Financials, the index's most heavily weighted sector, 
dropped 0.4 percent. Bank of Nova Scotia    shed 0.6 
percent to C$64.29, and Manulife Financial Corp    gave 
back 0.3 percent to C$21.35.  
    The materials sector, which includes mining stocks, climbed 
0.8 percent. In the group, Goldcorp Inc    added 1.5 percent 
to C$27.59, and Barrick Gold Corp    rose 1.4 percent to 
C$20.08. 
    With oil prices rising, energy shares advanced 0.6 percent. 
Canadian Natural Resources Ltd    jumped 2 percent to 
C$42.16, and Suncor Energy Inc    was up 0.9 percent at 
C$36.94. 
    ($1=$1.11 Canadian) 
 
 (Editing by Peter Galloway) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
  
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